Standard Chartered Menopause Policy, covering two-thirds of its employees
All employees and their partners will now have medical coverage for treating menopause-related symptoms
Standard Chartered Menopause Policy, covering two-thirds of its employees by November 2023
Standard Chartered has announced its intentions to provide comprehensive medical benefits to its employees in an effort to build a more inclusive and welcoming workplace. All the company’s employees and their partners will receive therapy for menopausal symptoms.
Employees will have access to specialized medical practitioners and prescription drugs as part of the package. Employees going through menopause will also benefit from flexible working rules and workplace modifications targeted at efficiently managing their symptoms.
Menopause, the corporation acknowledged, can have a negative impact on employee participation in the workplace and must be managed proactively. Furthermore, it will aid in the promotion of open, pleasant, and polite workplace talks.
In recent years, the Bank has undertaken global campaigns to raise awareness and provide better assistance. It has recently implemented resources such as toolkits, conversation guidelines, and counseling help, as well as e-learning and internal events.
The bank collaborated with the Financial Services Skills Commission (FSSC) in the United Kingdom to better understand the effects of menopause. According to the poll, nearly half of the women were unlikely to seek higher or more work because their symptoms were too severe. Furthermore, a fifth of them stated that they may leave their jobs before retiring.
Tanuj Kapilashrami, group head of HR at Standard Chartered, commented on the effort, saying that the organization is committed to proactively tackling the negative impact of menopause on women’s careers.
“Our extension of medical benefits to include coverage for treatment of menopause-related symptoms, as well as recent enhancements to parental leave benefits, both underline our commitments to create an inclusive environment where everyone can thrive and to lift the participation of women and other underrepresented groups in our workforce and the communities in which we operate,” he said.
More than two-thirds of employees will be able to use this coverage by November, and the company expects it to be completed by April 2024.
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